Income level refers to the amount of money an individual or household earns over a specific period, typically measured annually. It can include wages, salaries, bonuses, and other forms of compensation. Income levels are often categorized into different brackets, such as low, middle, and high income, which help in understanding economic status and purchasing power. Income level is an important factor in determining a person's or family's quality of life. It influences access to resources like education, healthcare, and housing. Additionally, income levels can impact social mobility and overall economic growth within a community or country, such as in the case of United States or India.